Bancorp Inc (NASDAQ:TBBK)’s share price traded up 8.5% during trading on Thursday . The stock traded as high as $9.52 and last traded at $9.47, 479,500 shares traded hands during mid-day trading. An increase of 190% from the average session volume of 165,108 shares. The stock had previously closed at $8.73.
Several equities analysts have commented on the company. ValuEngine upgraded Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. TheStreet upgraded Bancorp from a “c” rating to a “b” rating in a research report on Monday, June 3rd. BidaskClub downgraded Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 28th. Finally, Zacks Investment Research downgraded Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st.
The company has a debt-to-equity ratio of 0.12, a current ratio of 0.70 and a quick ratio of 0.47. The company has a market capitalization of $495.64 million, a P/E ratio of 13.48 and a beta of 1.28. The stock has a 50-day moving average price of $9.40 and a 200-day moving average price of $9.14.
Institutional investors and hedge funds have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan bought a new position in shares of Bancorp during the second quarter worth about $624,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Bancorp by 219.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,075 shares of the bank’s stock worth $421,000 after purchasing an additional 35,775 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Bancorp during the second quarter worth approximately $368,000. Kennedy Capital Management Inc. grew its stake in Bancorp by 66.7% during the first quarter. Kennedy Capital Management Inc. now owns 532,693 shares of the bank’s stock worth $4,304,000 after purchasing an additional 213,147 shares during the period. Finally, Capital Investment Counsel Inc grew its stake in Bancorp by 23.8% during the second quarter. Capital Investment Counsel Inc now owns 12,381 shares of the bank’s stock worth $110,000 after purchasing an additional 2,381 shares during the period. Institutional investors own 77.54% of the company’s stock.
Bancorp Company Profile (NASDAQ:TBBK)
The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.
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